Friday, 4 January 2013

Short-term owners miss out on electric car savings

Car buyers are failing to see the benefit of going electric, thanks to a consumer tendency towards replacing vehicles every three to five years, new research suggests.

This means that consumers miss out on the long-term savings that come from the lower running costs of EVs over their combustion car rivals. Put simply, consumers don’t keep their cars long enough to reach a breakeven point-where the initial higher purchase price of an EV over a petrol equivalent is recouped in lower ‘fuelling’ costs.

New research from the Indiana University School of Public and Environmental Affairs (SPEA) suggests that this is not the only reason why consumers are failing to fall for EVs in their droves, with factors including the concerns about driving range, recharging and high prices all playing their part in suppressing sales.

Researchers surveyed more than 2,300 US motorists in 21 large cities, during autumn 2011, to discover that the perceived drawbacks of EVs still outweigh the benefits for most consumers.

citizens in some cities including San Jose, San Fransisco, Chicago and Boston much more receptive to buying an electric car.

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